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15 Aug 2018
USD/JPY Technical Analysis: bulls looking to hold 111.00
- The US Dollar continues to grind higher against the safe-haven Yen as markets stabilize after last week's risk-off plunge on Turkey contagion fears.
- US-CHina trade war angst continues to bubble just beneath the surface; a resurgence of negative trade headlines could see market anxieties bid the JPY back up.
- Technical indicators are beginning to warn of overbought conditions for the Greenback just above the 111.00 handle.
USD/JPY Chart, 1-Hour
| Spot rate: | 111.22 |
| Relative change: | 0.10% |
| High: | 111.24 |
| Low: | 111.10 |
| Trend: | Bullish |
| Support 1: | 111.00 (major technical level) |
| Support 2: | 110.58 (previous day low) |
| Support 3: | 110.10 (current week low) |
| Resistance 1: | 111.36 (61.8% Fibo retracement level) |
| Resistance 2: | 112.14 (two-week high) |
| Resistance 3: | 112.44 (R3 weekly pivot) |